Duties of Being a Successor Trustee The duties of being a successor trustee will vary from trust to trust. But your role does not come into effect until the initial trustee becomes incapacitated or is deceased. In this article, we will go over some of the duties of being a successor trustee to give you [...]
Creditor Protection Trust When looking into estate planning there are some who are hoping to get a creditor protection trust. Unfortunately, some do not realize all that is entailed in setting up one successfully. In this article, we will go over how to set up a creditor protection trust properly so you can protect your [...]
Veterans Asset Protection Trust A Veterans Asset Protection Trust is a special type of trust that allows a veteran to protect their assets and qualify for veteran benefits. In this article, we will go over the basics of setting up a Veterans Asset Protection Trust and how they work. How It Works A Veterans Asset [...]
Charitable Lead Trust A charitable lead trust is a type of irrevocable trust. In the proper circumstances, they can help you to reduce your tax liability, provide for loved ones, and support charity. In this article, we will discuss how a charitable lead trust works. Purpose The purpose of a charitable lead trust is [...]
Charitable Remainder Trust A charitable remainder trust can be a powerful estate planning tool. In the right situation, it can provide you with many financial benefits. In this article, we will go over the basics of charitable remainder trusts so you can determine if one is right for you. The Basics A charitable remainder trust [...]
Common Estate Planning Terms There are certain common estate planning terms that you should be familiar with as you embark on your estate planning journey. Below you will find a categorical list of these common estate planning terms. General Estate Planning Terms Estate An estate is the total value of assets and debts that [...]
Medicaid Trust A Medicaid trust is a useful tool for Medicaid planning. A Medicaid trust is an irrevocable trust that must follow certain guidelines to be valid. In this article, we will go over the basics of Medicaid trusts. Qualifying for Medicaid Each state has its own Medicaid systems in place. Arizona’s Medicaid program [...]
More Celebrity Estate Planning Mistakes Many enjoy reading celebrity estate planning mistakes because they have a hard time believing people with so much money and so many resources available to them can make such mistakes. But their mistakes can be simple, practical ones. We should be aware of these and learn from them. In [...]
Beneficiary Deeds-Advantages and Disadvantages Beneficiary deeds are a type of estate planning document. Like any estate planning document, there are both advantages and disadvantages to using one. What works best differs from person to person, depending on their situation. In this article, we will go over the advantages and disadvantages of using a beneficiary [...]
AB Trusts AB trusts were originally created with the main purpose of helping to reduce estate taxes. In this article, we will go over how AB trusts work, additional benefits they offer, as well as drawbacks you should be aware of. Original Purpose AB trusts got their start under old estate tax laws. In the [...]
